Finally, as I’ve often talked about before, it is my opinion that what you trade is not as important as how you you manage the trades you make. Many people can build high-quality watchlists but if you don’t know how to spot optimal entry points, how to scale into and out of positions, have a complete understanding of how to limit loser trades through position sizing and stop losses, etc. your success will be modest at best. Remember, it isn’t what you trade that will make successful, but rather how you manage the trades you make no matter what they may be. A good trader can and should be able to take the worst watchlist ever created and still find a way to make money from it!
– Charles Kirk

First of all a little house keeping announcement. I am moving all position charts for the five Grail Investing strategies to the GrailInvesting.com Chart List at StockCharts.com.

Embedded charts from FreeStockCharts.com will no longer be needed for a couple of reasons. One  is that you’ll find the charts on StockCharts.com are now in real time just like on Free Stock Charts. Also, another feature I liked with Free Stock Charts is the ATR-based volatility stop. Having tried both, I’ve decided I prefer the ATR trailing stop from Stock Charts. And the charts for all five strategies stored at one central location at Stock Charts are easier to view and load up much more quickly than the embedded charts from Free Stock Charts. And I can make changes, add annotations, and insert comments more easily with Stock Charts.

Speaking of StockCharts.com, they have been on a tear as of late adding more useful features and tools. The latest is the Elder Impulse system:

I first read about the Impulse System about seven years ago when I read the book, Come Into My Trading Room by Dr. Alexander Elder. I never did much with it simply because I can’t do everything. However, Stock Charts has made it so easy for me,  I’ve decided to revisit Impulse.

You can read an article about it here. Simply stated, the green bars are bullish, the red bars are bearish, and the blue bars are neutral. I’ve been experimenting with it and I’m sure you’ll see me apply the Impulse tool to some of the things we’re already doing in the near future.

Let’s review our strategies.

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